Dawn Meats gets EU approval to acquire 49pc of France’s Elivia
The EU Competition Commission has approved Dawn Meats acquisition of a 49pc stake in France’s second largest beef and veal processor Elivia.
The agreement with Elivia’s owners, French cooperative Terrena, includes an option for Dawn Meats to increase its stake in Elivia to 70pc by 2019.
This positions the Irish company to double in size to a business with revenue over €2bn within four years.
Employing 2,600 people and with annual revenues of over €1bn, Elivia is a major player in agrifood in France, located in Western France, one of the leading farming regions of Europe, comprising the Loire region, Poitou-Charentes and Brittany.
Dawn Meats processes and supplies premium Irish and British red meat to a range of supermarket, food service and restaurants businesses in Ireland and the UK and for export to 40 countries around the world.
The deal will see sharing of best practice to deliver growth based on quality, efficiency and the joint development of new opportunities.
“In a consolidating industry we believe that this deal brings considerable scale and knowledge sharing benefits to both parties,” said Niall Browne, CEO of Dawn Meats.
“Our aim is to leverage our leadership position in traceability and sustainability so that we are at the vanguard of meat marketing internationally. Our scale, premium positioning and routes to market will benefit our customers and thousands of farmer suppliers in Ireland, the UK and now, via Elivia, in France.”
Elivia will continue to be managed by its current chief executive Guy Wermeister
For more please click:http://www.businessandleadership.com/exporting/item/51170-dawn-meats-gets-eu-approval/